EOG Resources, Inc. Announces Quarterly Dividend of $1.02 (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) announced a quarterly dividend on Tuesday, February 24th. Shareholders of record on Thursday, April 16th will be paid a dividend of 1.02 per share by the energy exploration company on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, April 16th.

EOG Resources has raised its dividend by an average of 0.3%annually over the last three years and has raised its dividend every year for the last 8 years. EOG Resources has a payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Analysts expect EOG Resources to earn $11.54 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 35.4%.

EOG Resources Stock Down 0.2%

Shares of NYSE:EOG traded down $0.29 during midday trading on Wednesday, reaching $123.41. 3,890,743 shares of the company were exchanged, compared to its average volume of 4,919,482. EOG Resources has a fifty-two week low of $101.59 and a fifty-two week high of $132.09. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $110.04 and a two-hundred day simple moving average of $111.60. The firm has a market cap of $66.96 billion, a PE ratio of 12.30 and a beta of 0.49.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. The business had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the firm posted $2.74 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of EOG Resources from $136.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of EOG Resources in a research report on Thursday, January 22nd. BMO Capital Markets cut their price objective on shares of EOG Resources from $126.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Raymond James Financial increased their target price on EOG Resources from $153.00 to $157.00 and gave the company a “strong-buy” rating in a report on Friday, February 13th. Finally, Citigroup restated a “neutral” rating and set a $115.00 target price (down from $125.00) on shares of EOG Resources in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $134.37.

EOG Resources Company Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.